Recruiting senior-level executives requires more time, effort, resources, and skills than hiring for most other jobs. It can be a daunting task for an inexperienced recruiter. This area, however, is where executive search firms excel. They understand what it takes to be an exceptional leader -how to identify and assess candidates with the unique skillsets required to lead a company successfully. Their experience in locating candidates for a wide variety of roles makes them experts in helping to define the requirements for new positions in your organization as well.
Specialists in Their Field
Human Resource departments are an invaluable tool in the business world. They take care of many employee benefits and aid in the search for new hires. However, when it comes to finding high-level executive talent, they do not have the understanding or breadth of experience needed to identify the most qualified applicants. They may not realize all that the job entails, or the qualifications required to carry out those duties.
Making a poor decision for a position of this importance can have catastrophic consequences. Underqualified or underperforming executives can lead to decreased morale and productivity as well as increasing employee turnover for an entire organization.
Executive search firms exist for the sole purpose of matching the best executive talent with the job opportunity and company. Years of experience pairing top-performing executives with positions like yours gives them intimate knowledge of the qualities and qualifications essential in an applicant. They can even assist in defining the unique combination of skills for new positions opening up, which is especially advantageous to growing companies wanting to increase additional management positions.
Proceed with Discretion
Hiring to replace a current employee can be a tricky business. Posting the position online to garner interest can have repercussions. An executive search company, however, does not rely on public postings to find applicants. Instead, they may begin their search confidentially within their extensive network of contacts. Not only can they cast a wider net to find the best fit for your position, but their reputation may be able to elicit a response from candidates that may brush off calls from another local recruiter.
Top-performing executives are usually not perusing online job postings. The type of leader that you are searching for may already be employed somewhere else. The discretion used by executive search firms also allows them to approach the currently employed candidate without jeopardizing your existing relationships or sacrificing your reputation.
Avoid Stepping on Toes
Business relationships with partners and competitors take time and effort to build. While you are searching to hire the best leadership for your companies, there is no need to muddy the waters by competing openly for job candidates. Hiring an executive search recruiter to handle the job of filling the open spot on your board allows an impartial third party to step in and take the lead. Interviewing and negotiating with candidates can be handled discreetly without interfering with your business relationships.
Save Time and Money
Hiring the right applicant for a leadership role makes a big difference to a company’s bottom line. Just as the right person can motivate employees and increase productivity, the wrong person can cause a significant drop in morale. Unhappy employees are less productive and may even choose to leave the company for greener pastures. Both conditions lead to losses in work performed and impact overall company earnings.
Sorting through a stack of CVs and resumes to identify truly qualified candidates can be a daunting task. Unlike resumes that are usually only a page in length, CVs are typically multiple pages and offer much more detail on the candidate’s education, certifications, and credentials. Sorting through dozens of CVs is a time-consuming process.
Differentiating between all the applicants requires a deep understanding of the qualifications being presented and the relevancy of these credentials to the position at hand. Executive search teams specialize in discerning between a qualified and unqualified applicant. They can significantly narrow down the large applicant pool for you before you begin interviewing for the position.
Diversity and Inclusion
In searching for executives to round out the leadership in a company, diversity and inclusion recruitment is paramount. When it comes to the top decision-makers for a company, it is vital to include members with varied backgrounds, talents, opinions, and experience. Each member should have something different to contribute to the conversation. These diverse voices work together to challenge existing thinking and move the company forward despite its challenges. Executive search firms have deep networks that allow them to find candidates that have something new to offer while making connections with existing employees.
The true test of a successful executive search company is employee longevity. A great firm can match candidates and companies with such precision and shared vision that the matches offer excellent retention rates in most cases.
When looking for the right firm to help you hire an executive, examine their track record. They should have exceptional knowledge of your market and can successfully place executives in long-term leadership positions.
At Diestel Executive Search, we have over 23 years of experience expanding our networks across a wide variety of industries and honing our search methodology for finding the best talent matches for our clients. Contact us today to learn how we deliver high-impact leadership quickly and efficiently for our clients.